Reliance Industries Ltd is seeking a minimum $ 10 rate for the gas it plans to produce from coal seams, as it altered its pricing formula to reflect the changed energy scenario.
Reliance has sought bids from users for 0.90 million standard cubic meters per day of gas it will produce from coal-bed methane (CBM) block SP (West)_CBM-2001/1 in Madhya Pradesh, according to a tender floated by the company.
Users have been asked to quote a premium they are willing to pay over and above 12.67 per cent of the Dated Brent crude oil price.
